There Are Lies, Damned Lies, Statistics and The Employment Report | WHAT REALLY HAPPENED


There Are Lies, Damned Lies, Statistics and The Employment Report

Last month the Government’s Bureau of Lies And Statistics served up an employment report purporting 312,000 new jobs in December. This despite massive seasonal retail lay-offs in the latter half of the month. The BLS happily counts those jobs when hired in October but forgets to remove them when are dismissed at the end of the holiday shopping season. As John Williams (Shadow Government Statistics), the 312,000 jobs were created by re-doing the spreadsheets for prior months’ jobs reports:

Surging December payrolls were a reporting fraud, a canard, no more than massive prior-period revisions “recalculation of seasonal factors” that shifted growth from past months into the October 2018 to December 2018 time-frame, without showing the headline downside revisions to the earlier months from which the growth was borrowed

The same re-calc’ing of the spreadsheets created the 304,000 pop in jobs, December’s 312,000 print revised down to 222,000, with the jobs shifted into January’s number. But no one looks at the revisions, besides a handful of tin-foil hat conspiracy theorists.

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